Symphony Village HOA Residents:

The Symphony Village at Centreville HOA Board of Directors is pursuing an amendment to the Declaration of Covenants, Conditions & Restrictions (“Declaration of CC&Rs”), which govern Symphony Village at Centreville Homeowners Association, Inc. (“the Association”). The proposed amendment would increase the amount of the Initial Capital Contribution paid by the buyer/new owner when a home is purchased in the community.

What is the Initial Capital Contribution? The Initial Capital Contribution is the payment made upon the convenance of a Lot from one Owner to another Owner (a “Resale”). The payment is made by the new owner and represents an initial contribution to the working capital/operating funds of the Association. This payment is made in addition to the regular monthly assessment and supplements the Association’s operating funds which are used to maintain common areas and amenities. For more information, please see Article 6, Section 6.2.ii of the Declaration of CC&Rs available on the Governance page of the official community website (symphonyvillagehoa.net).

The amendment in question would increase the amount of the Initial Capital Contribution paid by the buyer/new owner in a real estate Resale transaction in the Association from $750 to a sum equal to one (1) year or twelve (12) months of the monthly assessment on the date of settlement. In other words, the amount of the Initial Capital Contribution would be tied to the amount of the monthly assessments and change along with it (when necessary) for years to come. For example, if the amendment passes in November 2024 and you sell your home and settle on December 31, 2024 the new owner would pay $3,120 (12 x $260) instead of $750 as part of the Resale. This is not additional money you would pay (you already made your Initial Capital Contribution when you bought your property). This is paid by future owners buying into the community at the closing table.

A mailer was sent by USPS  to all homeowners on October 11, 2024. The mailer contains a cover letter, a copy of the proposed amendment, as well as a proxy that, if/when returned to the Management Office, will indicate your vote in favor of the proposed amendment. To view and download a copy of the mailer, please CLICK HERE.

For the amendment to be adopted, no less than sixty percent (60%) or two hundred and thirty-seven (237) households must return the enclosed proxy. Each household may only return one proxy as there is only one vote per household.

The proposed amendment will NOT increase your cost to sell your home, as the Initial Capital Contribution is paid by the buyer/new owner. If adopted, the proposed amendment will help supplement the Association’s annual operating budget and potentially reduce or eliminate increases to the monthly assessment amount for current owners in future years. As the community clubhouse and amenities age a proactive approach to help offset costs is critical to the financial health of the Association.

A Special Meeting of the Members to Amend the Declaration of CC&Rs is scheduled for Friday, November 15, 2024 at 10:00 a.m. virtually on Zoom and in-person at the Clubhouse (100 Symphony Way, Centreville, MD 21617). If possible, PLEASE RETURN YOUR PROXY TO MANAGEMENT BEFORE THIS DATE to cast your vote in favor of the proposed amendment.

The following options are available to return the Proxy:

• In-person at the Clubhouse (front desk)
• Email to gm@PROTECTED
• Mail to 100 Symphony Way, Centreville, MD 21617
• Prior to the Special Meeting of the Members on Friday, November 15, 2024 at 10:00 a.m.

*** IF YOU WILL NOT BE ATTENDING THE SPECIAL MEETING, THE “NAME OF PROXY HOLDER” LINE ON THE ENCLOSED PROXY SHOULD BE LEFT BLANK. THIS WILL ALLOW THE SECRETARY OF THE ASSOCIATION TO CAST AN AFFIRMATIVE VOTE ON YOUR BEHALF AT THE MEETING. IF YOUR NAME(S) ARE WRITTEN ON THE LINE YOU MUST ATTEND THE SPECIAL MEETING FOR YOUR AFFIRMATIVE VOTE TO BE VALID. ***

If you wish to attend in-person, please join the Board in the Concert Hall on Friday, November 15, 2024 at 10:00 a.m. All are encouraged to come early as homeowners attending the meeting must sign-in prior to 10:00 a.m. Please note that sign-in will begin at 9:15 a.m.

If you wish to attend virtually by Zoom, please CLICK HERE and follow the prompts. Please note that attendees are asked to register in advance and use their first and last names in the meeting.
 

To attend by phone, please dial 1 (301) 715 8592, enter the meeting code: 873 0499 6130, press # to continue, and enter password 8500 #.

All homeowners in attendance by Zoom must register using their full name and property address prior to the start of the meeting.

If you have any questions or concerns, don't hesitate to contact the Management office at 410-758-8500 or via email at gm@PROTECTED.

Sincerely,

Symphony Village HOA Management